Energies Rally Ahead Of Supply Report
Crude oil is trading at a contract high ahead of the American Petroleum Institute’s (API) report on inventories scheduled for release after today’s close. Traders are expecting the report to show a drop in inventories. Both crude oil and heating oil are on the Momentum-5 List.
Going the other way, natural gas, from the Implosion-5 List, gapped lower and is trading at a six-month low.
Stock index futures are rallying ahead of the Federal Reserve’s FOMC meeting on interest rates. Nasdaq 100 futures, a Momentum-5 List component, are trading at a new high.
Also from the Implosion-5 List, cotton is continuing its descent and trading at a two-month low after failing to break through a triple-top in mid-October.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•December T-bonds [USZ9>USZ9]: +6/32 to 115 3/32
• December S&Ps [SPZ9>SPZ9]: +12.30 to 1415.30
• December Dow futures [DJZ9>DJZ9]: +72 to 10,896
• December NASDAQ 100 futures [NDZ9>NDZ9]: +24.50 to 2920.50
Currencies
•December dollar index futures [DXZ9>DXZ9]: +.24 to 100.78
•December Japanese yen futures [JYZ9>JYZ9]: -.0085 to .9488
Energies•December crude [CLZ9>CLZ9]: +.39 to 25.52
•December unleaded gas [HUZ9>HUZ9]: +.0050 to .7070
•December heating oil [HOZ9>HOZ9]: +.0051 to .6705
•December natural gas [NGZ9>NGZ9]: -.044 to 2.480
Metals•December gold [GCZ9>GCZ9]: +2.0 to 294.5
•December silver [SIZ9>SIZ9]: +4.7 to 514.5
Grains•December wheat [WZ9>WZ9]: +2 3/4 to 252 3/4
•January soybeans [SF0>SF0]: +3 to 472 1/4
Meats•February pork bellies [PBG0>PBG0]: -1.075 to 76.200
Softs and Fibers•December coffee [KCZ9>KCZ9]: -3.05 to 125.75